New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1887-08-19

ITO Der cents and the surplus sa charges for the
seven months Of this year $1o5 against dehicis
of 424527 for the seven months Of 1861 gain
of s3OO47. The company's bonded indebtedness con-
eists of s44575OO divisional mortgage bonds and
consolidated mortgage gold per centbonds
total SIT s995O0 on 635 mies or less than $4,000
mile.
The preliminary official statement Of the Louisville and
Nashville Railroad. showing the general results OF the
business OF It's fiscal year ended juno 80, Is another
remarkable exhibit The gain IN earnings over the
preceding year 81 9O3, $780, IA 40 per cent The
gain In net earnings from trac is 81 o69,s0s or over
212 per cent and gain Of S272,051 gives net gam
in surplus over first charges OF 13044i9 or nearly
249 per cent Last years result shows surplus equa
to over per cent on the company's capital stock.
The quarterly statement TO the New-York state Coih-
missoners of the Buffalo, Rochester and Pittsburg ha
way Company gives q gain In gross earnings for the
quarter end ed Juno 30 1897 OF S306572 or 40 per
cent over the quarter Of 1885, gain In net earn
ings OF si35937 or 400 per cent and surplus over
first charges OF $62O6 against deficit OF @oitol a''
year-a gain OF S1456SI.
Eighteen railroads have reported their gross earnings
for the second week OF August. OF them seventeen
roads return aggregate earnings OF $l7O7oOi against
81 4O930O for the same week OF 1886: a. gain OF
1927 Oh or over 81 per cent One road reports loss
OF 81 401, $40 per cent All the roads In the week
OF $50 gave large gains on the week OF 1889
In certain speculative circles to-day there was good
deal said and sent out through the Wall Street news W
agencies about the disappointment OF the bulls In STOCKS
at the small of bonds which the Treasury yester
day purchased IL after the announcement OF the DDS
showing that next TO the So, 100000 offered at 1oo44
was the small lot 100 92a and round lot at lO09s,
any one supposed Secretary would accept any except
the lowest offered he must have imagined that the Treas
ury speculative Wall Street institution instead OF
duciary of the whole people of the United States
Let us forget that for weeks before the secrearys
invitations sell Az cents each Wednes
day tha
1Osaa1O0 That certain speculative holders OF Gov
eminent bonds flooded the country with romantic crcu
lars OF the startling accumulaons" OF money In inc
Treasury that the remedy the purchase
of bonds Neither let forget that the publication
OF the secretary invitation for proposals for the sale OF
bonds the persons largest interested In finding market
Immediately began manipulation OF the prices at the
Exchange and that with little or no BUSINESS the
biddings for 4l2s advanced from lOs+ TO HOS
The scheme for making the people pay high rate for
their own promises pay has proved about the greatest
failure that exposed in Wall Street But this
failure is not the bear argument general securities
that is attempted 10 be made OF II. Admit
for argument that there existed any commercial
mercantile financial reasons for extraordinary Treas
ury disbursements during the next few months Three
weeks ago strongly claimed that the secrearys
offer would avail nothing because the bonds were not ior
any price which he would be authorized 10 pay
for them. since then the Treasury has taken up
10000 aud today the nominal quotation Tor IS is
los lOs7s with the whole country asking NewIorK
round lots. Inc question -
reversed when tho Government becomes bus OF instead
OF "a seller bonds. While the process OF bidding up
/ the bonds was going mildly suggested 10 the ma
upuIators required two to make purchase and
plum ply said that tic prices OF he - were
/ nbuormaiy high. far the financial situation
is concerned there existed reason for treasury
interference satisfactory To have 10 developed that
the Treasury buy all the bonds % the amount OF
] its surplus at It's own price.
TodaN's stock markets were about ~ du rs ths} were
Yesterday The aggregate sales at the Two boards were
9lG3Oi shares against 2jlHG5 shares yesterday 10 day
1854 at the Stock Exchange and $500 shares al
the Consolidated Board. In the early EOufs the bears
had their innings and made the prices consequently
under the effect Of their prices opened lower aud
further declined some fractions yesterday "small
bond purchases were talked mp and down The market
/ was eraveiy Informed that Chicago operators were
| feeling II with view 81 sclHhg,
while the general tenor Of other Chicago
dispatches indicated that Chicago mad sold and 10" was
waiting opportunity to purchase Ncwl OK aud
Nrw-Englaud stock made the particular Sedsehau-
mer on the It's sales 81 100 shares were greater
than those Of any other stocks IT'S price Tell from
4G to 40 aud closed only with rally ~ \ per cent A.
bold for account members OF the company executive
committee and FOR the interest who we're suc ram
annual election
occurs December and tho transfer
close for that purpose In the last days OF October fo
lowing the last the price OF the stock dropped
some 20 per cent There exists large short Inter
| eat In the stock. and change I'm management
at the December election might be followed by Al acuon
the reverse of that last December Missouri facluc was
another specially weak stock and closed peg cent uhder
its opening price The market generally, however re-
covered late dealings TO, better than inc open
/ ing figures and closed steady. 800
/ Goyernm~nt bonds were duh and weak Tho bis.wcro
III 4 ga nj Ia l. \